MBS Trustees Facing Increased Liability, Pressure from Servicers on SEC Reporting
February 3, 2012
MBS trustees are facing challenges on a number of fronts, according to panelists at the American Securitization Forums ASF 2012 conference last week in Las Vegas. Issuers are counting on trustees to provide new information required by the Securities and Exchange Commission, communications with the rating services have become strained, and municipalities are looking to require property maintenance on abandoned homes. Under the Dodd-Frank Act, the SEC now requires ABS issuers to disclose the three-year history of the repurchase requests theyve received including those withdrawn and those disputed...